Access to the information available in the following pages may be restricted in certain countries by applicable laws and regulations. Persons who are physically located in those jurisdictions and who would like to access the information available in the following pages must inform themselves about and observe such restrictions.

France

The information available in the following pages may be freely accessed by French residents who are physically located in France.

European Economic Area

With respect to each Member State of the European Economic Area other than France (the "Relevant Member State") which has implemented the Directive 2003/71/EC of the European Parliament and the Council of November 4, 2003, as amended and as implemented in each member State of the European Economic Area (the "Prospectus Directive"), the information available in the following pages is directed only at any legal entity which is a qualified investor as defined in the Prospectus Directive.

These restrictions with respect to any Relevant Member State apply in addition to any other restrictions which may be applicable in the Relevant Member State who has implemented the Prospectus Directive.

United Kingdom

The information available in the following pages is directed only at persons who (i) are outside the United Kingdom, (ii) are "investment professionals" falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (as amended) (the "Order"), (iii) are persons falling within Article 49(2)(a) to (d) ("high net worth companies, unincorporated associations etc.") of the Order or (iv) are other persons to whom an invitation or inducement to engage in investment activity (within the meaning of the Financial Services and Markets Act 2000) in connection with the issue or sale of any securities may otherwise lawfully be communicated or caused to be communicated (all such persons in (i), (ii), (iii) and (iv) together being referred to as "Relevant Persons").

The information available in the following pages is directed only at Relevant Persons and must not be acted on or relied on by persons who are not Relevant Persons. Any investment or investment activity to which the information available in the following pages relates is available only to Relevant Persons and will be engaged in only with Relevant Persons.

United States

This information available in the following pages does not constitute an offer to sell, or a solicitation of offers to purchase or subscribe for, securities in the United States. The securities referred to therein have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended (the "Securities Act"), and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act. Korian does not intend to register any offering of securities in the United States or to conduct a public offering in the United States.

Canada, Australia and Japan

The information available in the following pages may not be accessed by persons located in Canada, Australia or Japan.

Other Countries

All persons residing outside of France and outside of the United States, Canada, Japan and Australia who wish to access the documents contained on this website should first ensure that they are not subject to local laws or regulations that prohibit or restrict their right to access this website, or require registration or approval for any acquisition of securities by them. No such registration or approval has been obtained in France or outside France. Korian assumes no responsibility if there is a violation of applicable law and regulations by any person.

By accessing to the information available in the following pages, you confirm that you are in compliance, and agree to comply, with the restrictions described above.

The information that you have provided does not allow you to access to the information available in the following pages.